Page 11 - Banking System

Global banking is a bright spot

The world's financial system faces an intimidating set of challenges, but the lessons of the global financial crisis are holding banks in good stead

Pakistan govt to implement 'interest-free' banking system by 2027

In a significant move, Pakistan's Finance Minister Ishaq Dhar on Wednesday announced that the country would move towards an 'interest-free' banking system under the Islamic law by 2027. The announcement came with Finance Minister Dhar conveying the government's intention of withdrawing its appeals against the Federal Shariat Court's April decision of eliminating interest from the country in five years, the Dawn newspaper reported. According to the Federal Shariat Court (FSC), the prevailing interest-based banking system in Pakistan was against the Sharia law as interest was absolute in all its forms according to the injunctions of Islam. "With the permission of the prime minister and consultation with the State Bank of Pakistan governor, I'm announcing on behalf of the federal government that the SBP and National Bank of Pakistan will withdraw their appeals from the Supreme Court and our government will fully try to as quickly as possible implement an Islamic system in Pakistan," Da

Moody's downgrades Italian economy amid inflation, energy concerns

Moody's slashed its assessment of the country's banking system from "stable" to "negative", and said it expects conditions for the banking sector to deteriorate further over the coming 12 to 18 months

The battle for deposits will intensify

The challenge before the banking system is how to keep the net interest margin healthy in a rising interest rate cycle

Private banks' net profit soars on healthy loan growth, higher margins

NIMs expanded as banks hiked rates on lending faster than those on deposits

Credit card spends touch record high of Rs 1.22 trillion in September

Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year

UP gets digital banking footprint with four of the 75 DBUs on its soil

The DBU are being set up to ensure the benefits of digital banking reach the remotest of places

Liquidity slips into deficit on high credit growth, festival loan demand

Banks face pressure to raise deposits; weighted average call rate highest in 3 years

HSBC says exploring sale of Canadian operations for latest disposal

A potential sale of HSBC's 100% equity stake in HSBC Bank Canada is among the options being explored, the lender said in a statement.

'Upper layer' NBFC tag for Tata Sons calls for a new compliance policy

Tata Sons will have to appoint a new chief compliance officer (CCO)

Banks can boost liquidity by drawing down on CRR: RBI governor Das

The fall in the liquidity surplus is owing to multiple factors, including the RBI's interventions in the forex market and a sharp pick-up in bank credit growth, which is currently at nine-year highs

Bond yields fall on short-covering; market still hopes for index inclusion

Call rate closes at highest since October 2019 as liquidity tightens

Liquidity slides into deficit for first time in over 3 years: RBI data

Days of easy money over as credit growth rises

Surplus liquidity slumps to Rs 3K cr on tax outflows, shows RBI data

The RBI's average daily absorption of excess liquidity was at Rs 3.8 trillion during June-July against Rs 5.5 trillion in May and Rs 7.4 trillion a month ago

HDFC Bank targets nearly Rs 1-trillion deposit mop-up every quarter

In the recent roadshows, the bank's management sounded confident of its ability to deliver both loan growth as well as deposit growth, a report by Macquarie Research said on Monday

YES Bank Q1 profit rises 50.2% to Rs 311 cr on improved interest margins

YES Bank's net interest income rose by 32 per cent in Q1FY23 to Rs 1,850 crore from Rs 1,404 crore in Q1FY22

Rural India's inclusion in the Indian banking system

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Canara Bank crosses Rs 1 trn mark for outstanding gold loan book in June

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

BoB rejigs corporate banking biz, to open 27 branches for mid-corp entities

After rationalisation, nine Bank of Baroda branches will cater to large corporates while 27 will be for mid-sized corporates

Credit card spend hits new high in May; bounce rates by value at 3-year low

Bounce rates by value at three-year low